Deere & Co. (DE) To Go Ex-Dividend on September 28th
Deere & Co. (NYSE:DE) announced a quarterly dividend on Wednesday, August 31st. Shareholders of record on Friday, September 30th will be paid a dividend of 0.60 per share on Tuesday, November 1st. This represents a $2.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, September 28th.
A number of hedge funds have recently made changes to their positions in DE. Bluestein R H & Co. acquired a new stake in shares of Deere & Co. during the second quarter valued at about $203,000. Point72 Asia Hong Kong Ltd raised its stake in shares of Deere & Co. by 316.7% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,500 shares of the company’s stock valued at $203,000 after buying an additional 1,900 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Deere & Co. during the second quarter valued at about $206,000. Boston Financial Mangement LLC acquired a new stake in shares of Deere & Co. during the second quarter valued at about $207,000. Finally, HBK Sorce Advisory LLC raised its stake in shares of Deere & Co. by 4.8% in the second quarter. HBK Sorce Advisory LLC now owns 3,309 shares of the company’s stock valued at $268,000 after buying an additional 152 shares during the period. Institutional investors own 70.62% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Barclays PLC reaffirmed a “sell” rating and issued a $63.00 price objective on shares of Deere & Co. in a research report on Tuesday, September 6th. Zacks Investment Research raised shares of Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective for the company in a research report on Monday, September 12th. Vetr raised shares of Deere & Co. from a “sell” rating to a “hold” rating and set a $77.39 price objective for the company in a research report on Tuesday, July 5th. Piper Jaffray Cos. downgraded shares of Deere & Co. from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $77.64 to $67.00 in a research report on Monday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Deere & Co. from $70.00 to $76.00 and gave the stock an “underweight” rating in a research report on Monday, August 22nd. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Deere & Co. currently has an average rating of “Hold” and a consensus price target of $81.61.
Deere & Co. (NYSE:DE) opened at 84.16 on Friday. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $88.63. The company has a market cap of $26.46 billion, a price-to-earnings ratio of 16.87 and a beta of 1.05. The company’s 50 day moving average is $82.34 and its 200 day moving average is $81.80.
Deere & Co. (NYSE:DE) last announced its earnings results on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.61. The company earned $6.72 billion during the quarter. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. Analysts forecast that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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